On-Line Travel Start-Up Hopes to Fill Activity Void
Peek, a new start-up travel business, is seeking to fill a void in the multi-billion dollar industry. The company believes that there are plenty of websites to help you find and book flights and hotels, but consumers still don’t have an on-line tool to recommend and book activities once they reach their destinations. The NY Times cited a research firm PhoCusWright who said that many of the on-site activity vendors are not reaching consumers on the Internet because they are small and often do not have Web sites. Peek hopes to be the middle man by linking travelers with these activity providers.
Peek’s co-founder and chief executive, Ruzwana Bashir, says that the company is not yet open to the public, but will be within the next several months. The company has raised $1.25 million from high-profile investors including Eric E. Schmidt, Google’s chairman; Jack Dorsey, co-founder of Twitter and Square; SV Angel; and Khosla Ventures. Bashir says the Peek will help match travelers with activities based on their interests. For example, somone who enjoys outdoor activities might be matched with a kayaking tour at their destination.
Ms. Bashir says that other existing services of this nature are either too general (Travelocity) or too specific to a particular subset (Lonely Planet). NY Times quoted Bashir who said, “When it’s less about money and more about experiences, that’s not captured well on the Web.” The company will provide small activity vendors with a Web page, photos, a description of their service, and a way to book on-line. Bashir has degrees from Harvard and Oxford and has experience with other tech start-up likes Gilt and Art.sy.
Here are how internet travel stocks are trading:
Expedia Inc. (NASDAQ:EXPE): EXPE shares recently traded at $32.44, up $0.07, or 0.22%. They have traded in a 52-week range of $27.28 to $65.78. Volume today was 904,882 shares versus a 3-month average volume of 2,743,870 shares. The company’s trailing P/E is 9.63, while trailing earnings are $3.37 per share.
priceline.com Incorporated (NASDAQ:PCLN): PCLN shares recently traded at $527.15, down $2.34, or 0.44%. They have traded in a 52-week range of $411.26 to $561.88. Volume today was 338,789 shares versus a 3-month average volume of 976,695 shares. The company’s trailing P/E is 27.92, while trailing earnings are $18.88 per share.
Travelzoo Inc. (NASDAQ:TZOO): TZOO shares recently traded at $25.79, down $0.07, or 0.27%. They have traded in a 52-week range of $20.68 to $103.80. Volume today was 127,889 shares versus a 3-month average volume of 586,905 shares. The company’s trailing P/E is 128.92, while trailing earnings are $0.20 per share.
Orbitz Worldwide, Inc. (NYSE:OWW): OWW shares recently traded at $3.67, up $0.01, or 0.27%. They have traded in a 52-week range of $1.57 to $5.14. Volume today was 35,127 shares versus a 3-month average volume of 311,245 shares. The company’s trailing earnings are $-0.66 per share.
Tripadvisor Inc (NASDAQ:TRIP): TRIP shares recently traded at $33.74, up $0.84, or 2,55%. They have traded in a 52-week range of $23.99 to $34.05. Volume today was 1,260,000 shares versus a 3-month average volume of 2,180,000 shares.